Investors Prefer Bitcoin as a Safe Haven in Times of Uncertainty
The price of Bitcoin rose to $87,518 at 2:31 AM New York time, recovering most of its recent losses. The cryptocurrency had lost some of its gains following Trump's announcement of reciprocal tariffs at the beginning of this month.
When the dollar declines, investors seek alternative assets to protect their wealth. In this context, Bitcoin is viewed as a safe haven similar to gold, especially during periods of political and economic volatility.
This perception has boosted gains in other cryptocurrencies. For example, Ethereum jumped 2.6% to reach $1,647. XRP rose by 2.7%, while Cardano recorded gains of 3%.
